If an outright purchase offer was made, dependant on the bid, we would see the SP rise to match that value, or there abouts, and hold. If a JV offer was made we would likely see a surge in the SP followed by a gradual fall back for what could be several months until developement of the site started. The updated resource we are waiting for is the key element in my opinion. This will outline exactly what extractable tonnage we have. Without it Sepco would be unable to announce an offer or, I hate to say it, a JV agreement.
Last thing we need is a kibo style rise on news of a JV, It was deemed as the deal of the century, price went us a little then crashed. Currently sat at a lower SP then it was b4 the JV was announced. As for 2 pence purchase price by Sepco if things go well, not sure about that. If EDL decide to sell out, which they say they wont but I think they will, it could be anything from current SP to anything really but doubt it would be 2 pence. Maybe 1 pence. No news at present though. Whatever happened to that nobber ramper who had climbed kila man jaro and had heard word on the street in africa sort of thing, has he not got a mate who works in the mining app processing dept at the government ?
If sepco are to buy EDL outright then would they not need to make an offer above 2p minimum to entice people to sell their shares? Im also thinking if sepco and the BoD have already agreed a price if a takeover is to materialise. Why would you not have the Darwin option in back up and effectively put all your eggs in 1 basket and possibly be held to ransom? Why would we not get a KIBO type of rise when they announced their JV?
"why would you sell anything for many times less than it worth?"
Because it's the difference between accepting a perfectly respectable offer for something - now - something you know you have not the expertise - or finance - to fund on your own/or even necessarily in partnership - in years to come...or wait years and years and years and years and years...we simply don;t know how long it will take and as has been stated, the wait has been long already.
I'm personally not here for blue sky pound signs in a billion years time. We're a small AIM company with a shot at a great price for someone to take this asset off us and develop it pretty soon. Me personally, I would say live for the moment. I don't mean accept the first cheap offer that comes along or don't bargain but I would welcome that sort of action now in uncertain financial times.
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